Solution-What is the cost per equivalent unit

What is the cost per equivalent unit

Assignment Help Cost Accounting

Reference no: EM132964384

Question - The following data for the month of September were taken form the cost records of Department 1 of Pro-Life products which uses process costing system:

Opening inventory of work in process: Units: 500 (with all materials added and 50% of labor and overhead)

Cost: Materials 2,400

Labor 1,500

Factory overhead 760

Put into production:

Units: 5,000

Costs: Materials 25,100

Labor 19,380

Factory overhead 14,900

Completed and transferred: 4,800 units

Ending inventory of work in process:

Units: 700 (with all materials, and 60% of labor and overhead)

Required -

1. What is the cost per equivalent unit (rounded to nearest centavo) under FIFO method?

2. What is the cost per equivalent unit (rounded to nearest centavo) under WEIGHTED AVERAGE method?

Reference no: EM132964384

Questions Cloud

Calculate the maximum amount of fahim total tuition credit : Calculate the maximum amount of Fahim's total tuition credit that can be transferred to one of his parents in 2020. Fahim is in full time attendance.

What is the net present value of this possible switch : Lemius Industries is considering a net 30-day credit policy, What is the net present value of this possible switch in credit policies?

How many orders will be placed each year : The company is using Economic Order Quantity model in placing the orders. How many orders will be placed each year

What journal entry for the quarter should : On December 31, 2018, your journal entry for the quarter should? On October 1, 2018, you borrow $200,000 at 6% interest and record the promissory note

What is the cost per equivalent unit : Opening inventory of work in process: Units: 500 (with all materials added and 50% of labor and overhead) What is the cost per equivalent unit

Which of the nieces and nephews will have to treat : Casey has 4 nieces and nephews; Which of the nieces and nephews will have to treat the $245 as income for the taxation year?

What is subsequent payments testing : Question - Payables cut-off testing - What is 'subsequent payments' testing? How would you select the transactions to examine

Discuss effective measures that can address these issues : Write a paper about choosing appropriate measures for psychological diagnosis, evaluation, and selection - Discuss with examples, the role of ethics, legal, soc

What the journal entry to record the employees pay should : It withholds $1,600 for income taxes and $700 for Employment Insurance and other deductions, the journal entry to record the employees' pay should include a

User Account

All Pages

What is the cost per equivalent unit

Reference no: EM132964384

Reference no: EM132964384

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT